Moonwell

In World of Warcraft, a moonwell (aka moon well) has both a historical and in-game meaning:

An upwelling of magical waters created by the night elves to maintain and restore their magical powers. Little is known about the first moon well or how the moon wells proliferated through Azeroth, despite the taboo on overt magical practice among the night elves.

An in-game phenomenon that looks like a stone pool filled with silvery glowing water, sometimes used as a resource for quests and a catalyst for making mooncloth and primal mooncloth. These wells appear almost exclusively in night elf lands.

It is sometimes referred to as a moon well, but referred to in-game as a moonwell.

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Moon wells are hallowed repositories of the sacred waters of the Well of Eternity, the pool of energy that gives life to the mystical World Tree. When additional water is added, these wells nourish the night elf troops with their life sustaining waters. Additional moon wells become necessary as the night elf forces grow in number.[1]

Moonwells were/are created by the night elves to harness the energy of the moon, very much like a solar panel except in this case from the moon. In WarCraft 3, the Moon Well was the night elven farm structure that also had the ability to heal friendly units, and it had mana that only recovered at night. In World of Warcraft, moon wells are typically only cosmetic or quest related. Some newer players used to sometimes be seen standing in a moon well after combat, with the uninformed belief that it is healing them faster (As was similar in Warcraft 3). Tenaron Stormgrip in Aldrassil says that the water of the moonwell is brought from the Well of Eternity, and that sentinels keep them as shrines of Elune.

Enchanted pools throughout the Moonglade give the night elves their spiritual power and feed the World Tree that stands atop Hyjal Summit. The shimmering waters within give off a blue light, causing the moon wells to glow slightly in the night. They are scattered throughout the forest, often near giant standing stones covered in ancient runes.[2]

Moonwells are also one of the few things that can sate a High Elf's magical addiction. It should be noted however, that Night Elves do not like High Elves in their lands, let alone near the Moonwells.

Corrupted moonwells seem to have the ability to transform people into satyrs.[3]